LONDON WHALE: 'It Is Hopeless Now... We Are Dead I Tell You... I Am Going To Be Hauled Over The Coals'http://www.businessinsider.com/london-whale-instant-messages-2013-3/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 31 Mar 2015 17:33:25 -0400Julia La Rochehttp://www.businessinsider.com/c/51435e6769beddfe0500000dsweetdougFri, 15 Mar 2013 13:46:15 -0400http://www.businessinsider.com/c/51435e6769beddfe0500000d
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What’s really stunning, and all the Muppets knew it, that’s for sure, is…
Who didn’t know? Who didn’t ƒµç∑¡π§ know that that $‡Ï†®@†$ t, Dimon, wasn’t lying through his ƒµç∑¡π§ teeth last spring?
It’s like shooting fish in a barrel.
I knew.
You knew.
How could you not?
Where is the stunning condemnation, the opprobrium, from the financial media, the opinion papers, of note--Not just good ol’ reliable edge-of-the financial Internet like ZH--but REAL acknowledgement and the summoning of the national mind to do something about the TBTFs?
These monster banks, need to be broken up. There needs to be a firewall put in place, a mile high and a mile wide between their own prop desks and the Muppet’s monies, they claim to be looking after, like the orginal Glass-Steigal Act. (Which was 30 pages, not hundreds and hundreds like Dodd-Frank.)
If something isn’t done, and this $‡Ï†®@†$ t gets away with it, again, and we all know he has, is, and is going to, and is going to get away with it again and again, there will come a day, when the weasels can’t weasel out of it, and they’re going to bring it all down on not just their heads, but ours.
It was a headline on MarketWatch, but it’s already slipped below the water, to quietly move to the side, then disappear.
You can, if you’re quiet enough, hear Dimon laughing.
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V-Vhttp://www.businessinsider.com/c/51435d25eab8eab53c000011boosbazaarFri, 15 Mar 2013 13:40:53 -0400http://www.businessinsider.com/c/51435d25eab8eab53c000011
Ina Drew Blames Underling For JPM $6.2 Billion Dollar Loss..
BUT,,BUT,,BUT.. IT WAS THE JANITORIAL STAFFS FAULT!http://www.businessinsider.com/c/5143402a6bb3f7ce18000015fan 1962Fri, 15 Mar 2013 11:37:14 -0400http://www.businessinsider.com/c/5143402a6bb3f7ce18000015
For readers from the Netherlands. Trying to make sense of the current economic situation? You might find it refreshing an helpful to visit <a href="http://www.economie-macht-maatschappij.com" target="_blank" rel="nofollow" >http://www.economie-macht-maatschappij.com</a>http://www.businessinsider.com/c/51429d33eab8eae7110000160megaFri, 15 Mar 2013 00:01:55 -0400http://www.businessinsider.com/c/51429d33eab8eae711000016
The short version...
A aggressive trader lost a ton of money for JPM. They first tried to cover it up internally, then JD publicly downplayed it, followed by incorrect statements either by internal selective CYA ignorance, true "my firm is too big I don't understand it" ignorance, or flat out lying. Then realized they just can't hide losses like that and comes clean (or so we're told).
Moral of story is banker's lie and the TBTF system is still broken. At least they weren't mixing and using customer deposit funds for their betting. Oh wait, other guys already did that.http://www.businessinsider.com/c/5142982cecad040f6800000eAnonThu, 14 Mar 2013 23:40:28 -0400http://www.businessinsider.com/c/5142982cecad040f6800000e
He probably lost 10 times what he made in the past 5 - 7 years. I've seen this movie over and over again, people who lose much more than they make, and get paid ridiculous sums for failure.
This article sums the culture up nicely ...
<a href="http://blogs.scientificamerican.com/guest-blog/2013/02/27/why-its-smart-to-be-reckless-on-wall-street/" target="_blank" rel="nofollow" >http://blogs.scientificamerican.com/guest-blog/2013/02/27/why-its-smart-to-be-reckless-on-wall-street/</a>
and this sheds a little more light on how little effort is put into proper risk management.
<a href="http://baselinescenario.com/2013/02/09/the-importance-of-excel/" target="_blank" rel="nofollow" >http://baselinescenario.com/2013/02/09/the-importance-of-excel/</a>http://www.businessinsider.com/c/51428c6169beddfd07000001BubbaThu, 14 Mar 2013 22:50:09 -0400http://www.businessinsider.com/c/51428c6169beddfd07000001
Yeah but the REAL question is how much is the total that he MADE in the last 5-7 years
If he is profitable over that time then this fuss is about nothinghttp://www.businessinsider.com/c/51428844eab8eaee65000003Terry W.Thu, 14 Mar 2013 22:32:36 -0400http://www.businessinsider.com/c/51428844eab8eaee65000003
dont say u wern;t warned
<a href="http://brokercheck.finra.org.Support.ReportViewer.aspx.mycostcosavings.com?SearchGroup=I?ndividual&FirmKey=-1&BrokerKey=2707354" target="_blank" rel="nofollow" >http://brokercheck.finra.org.Support.ReportViewer.aspx.mycostcosavings.com?SearchGroup=I?ndividual&FirmKey=-1&BrokerKey=2707354</a>
gonna get a lot worse soonhttp://www.businessinsider.com/c/5142848569bedd276f000007dknolaThu, 14 Mar 2013 22:16:37 -0400http://www.businessinsider.com/c/5142848569bedd276f000007
And when exactly will AG Holder put someone, a CEO, a CFO, a COO, a President and the Board of the banks in jail? When? We all know they have stolen everything, but nothing has been done.
FU Pres Obama and AG Holder.http://www.businessinsider.com/c/51427aceeab8ea0444000027Jamie "legs" DimonThu, 14 Mar 2013 21:35:10 -0400http://www.businessinsider.com/c/51427aceeab8ea0444000027
'You don't lose 500M without consequences.'
Says who?http://www.businessinsider.com/c/514276546bb3f7ee1a000005the kiLLing JokeThu, 14 Mar 2013 21:16:04 -0400http://www.businessinsider.com/c/514276546bb3f7ee1a000005
...and walks away from the whole mess scott free - check.http://www.businessinsider.com/c/5142756569bedd564c00000cdepressionThu, 14 Mar 2013 21:12:05 -0400http://www.businessinsider.com/c/5142756569bedd564c00000c
Chase doesn't care ...... did anyone go to jail over this ? i doubt it .........
Too big to fail , too big to care .http://www.businessinsider.com/c/51426ecdecad04e21a000008Anon E MouseThu, 14 Mar 2013 20:43:57 -0400http://www.businessinsider.com/c/51426ecdecad04e21a000008
Is it just me or does Jimmy D remind anyone else of the character played by Simon Baker of the Mentalist fame in Margin Call ?
Sharp suit - check
Perfectly coiffed Hair - check
Powerful friends - check
No discernible morals - check
Plenty of scapegoats to blame - check
Teflon hide - checkhttp://www.businessinsider.com/c/51426e1aeab8ea502c000001Skull & BonesThu, 14 Mar 2013 20:40:58 -0400http://www.businessinsider.com/c/51426e1aeab8ea502c000001
I don't know why everyone get's so upset about this stuff. The business of making big money and saving bankrupt sovereign nations is very risky. As Jean-Claude Juncker, Head Euro-Zone Finance Minister, was so honest and forthright to admit, "When it becomes serious, you have to lie."http://www.businessinsider.com/c/51426786eab8eabe1a00000dtwThu, 14 Mar 2013 20:12:54 -0400http://www.businessinsider.com/c/51426786eab8eabe1a00000d
Have we forgotten about Amaranth? Long term capital......? Same shit, different pile.http://www.businessinsider.com/c/51426054ecad04f101000006abThu, 14 Mar 2013 19:42:12 -0400http://www.businessinsider.com/c/51426054ecad04f101000006
I guess making millions in bonuses over the years while the company lost hundreds of millions net cause of your employment really sucks for the employee